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EDM Council Data ROI Workgroup Publishes “Data as a National Treasure”

The EDM Council‘s Data ROI Workgroup has made available its fourth in a series of papers that espouses a standard best-practice framework for data management ROI.

The newest paper (dated January 2024) is titled “Data as a National Treasure: A framework and case studies to value national data across countries and functional sectors”.  It is available as a free download from the EDM Council’s website.

The paper’s introduction states:

Although valuation of data as a national treasure is still in its infancy, the EDM Council assembled a team of experts to compile an overall framework and approach. This paper contains a number of case studies across countries, functional sectors, and data products. The paper benchmarks the value of data based on key metrics such as gross domestic product, annual budget, and constituent count. The paper is intended as a guide to policymakers and data management professionals looking to leverage data to achieve mission, raise funds, and comply with regulations.

The paper’s authors acknowledge the difficulty in comparing the value of data across countries and industries. However, they estimate the value of all open and closed data in the United States is $4.2 trillion. Divided across the U.S. population of 332 million, the per capita data value is $12,650.  (They define open data as “data that can be freely used, re-used, and redistributed by anyone — subject only, at most, to the requirement to attribute and sharealike.”)

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